SOL Faces Correction as AI Token Fever Begins to Subside

The fever surrounding tokens associated with Claude Code has propelled Solana (SOL) into a strong momentum, but recent market movements indicate a more complex dynamic. SOL is currently trading at $123.01, down 3.84% in the last 24 hours, reflecting a correction after a rally period driven by investor enthusiasm for the AI tokens related to the Anthropic toolkit.

Claude Code Fever Drives Dramatic Network Activity Surge

The wave of investment fever related to Claude Code has significantly transformed the Solana network landscape. In recent weeks, the ecosystem has experienced unprecedented transaction activity. The number of active addresses surged from 14.7 million to 18.9 million over a week, while weekly transaction volume increased from 390 million to 530 million, according to data from DefiLlama.

This phenomenon was triggered by a new wave of developers launching tokens linked to viral AI repositories via Solana-based launchpads. This fever creates a unique feedback cycle: the more new tokens launched, the higher the on-chain activity generated. Interestingly, some of these speculative tokens have been claimed by the original AI project teams, allowing trading fees to be redirected back to developers, creating an incentive mechanism that attracts more participants.

Price Analysis and Key Levels for Investors to Watch

From a technical perspective, SOL’s movement has experienced tight consolidation before a breakout with strong volume around 2.34 million SOL. The price briefly reached a high of $130 before pulling back to the current level. The $130 mark remains a crucial pivot point that investors should monitor.

If buying momentum resumes, SOL has the potential to continue rising toward recent all-time highs. Conversely, if the decline persists, important support levels are in the range of $126–$124, which need attention. This pattern indicates that the specific hype around AI tokens does not entirely determine the overall direction of SOL’s price but is one of the factors within broader market dynamics.

Broader Trends in the Solana Ecosystem and Their Implications

Although the AI token craze has created a surge in activity, the total value locked (TVL) in the Solana network has actually decreased to around $8.4 billion. This suggests that high activity does not always equate to sustainable fundamental value growth.

On the other hand, the Solana ecosystem shows interesting diversification. Pudgy Penguins, as one of the strongest NFT projects in this cycle, has transformed from merely a “digital collectible” speculative item into a multi-vertical IP platform. With retail sales exceeding $13 million and over 1 million units sold, plus the Pudgy Party game surpassing 500,000 downloads in two weeks, this project demonstrates how tokens like PENGU (currently at $0.01) can grow beyond fleeting hype through solid product execution and genuine user adoption.

The ongoing success of these projects will depend on their ability to convert speculative enthusiasm into long-term utility and truly functional user adoption. Hype may create awareness, but only ecosystems with a strong value proposition will survive beyond the initial speculative phase.